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Zoning and the Distribution of Location Rents: An Empirical Analysis of Harris County, Texas
Jeremy R. Groves and Eric Helland
Vol. 78, No. 1 (Feb., 2002), pp. 28-44
Published by: University of Wisconsin Press
Stable URL: http://www.jstor.org/stable/3146921
Page Count: 17
You can always find the topics here!Topics: Zoning, Census tracts, Homes, Land use, Land economics, Prices, Property ownership, Nightclubs, Arterial highways, Highways
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The Coase theorem presents two criteria for evaluating regulation: regulations efficiency relative to private solutions and how the regulation affects the distribution of wealth. Previous studies of the impact of municipal zoning have focused on Coase's first criteria: whether zoning raises land values overall. This study estimates the transfer of wealth between owners of existing homes that results from the creation of a municipal zoning ordinance. We find that property best suited to residential use gains in value while property with relatively higher potential as commercial property experiences a decline in the value. We find that zoning is distributive.
Land Economics © 2002 Board of Regents of the University of Wisconsin System